1,061,392 Shares in Light & Wonder, Inc. (NASDAQ:LNW) Purchased by Norges Bank

Norges Bank acquired a new stake in shares of Light & Wonder, Inc. (NASDAQ:LNW - Free Report) during the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 1,061,392 shares of the company's stock, valued at approximately $91,683,000. Norges Bank owned approximately 1.20% of Light & Wonder as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in LNW. R Squared Ltd bought a new stake in shares of Light & Wonder during the fourth quarter valued at approximately $35,000. Quarry LP bought a new stake in shares of Light & Wonder during the 3rd quarter valued at $51,000. Blue Trust Inc. grew its position in shares of Light & Wonder by 194.3% in the 4th quarter. Blue Trust Inc. now owns 718 shares of the company's stock worth $65,000 after buying an additional 474 shares during the period. Neo Ivy Capital Management purchased a new stake in shares of Light & Wonder in the 3rd quarter worth about $104,000. Finally, Sanctuary Advisors LLC bought a new stake in Light & Wonder during the third quarter worth about $222,000. Hedge funds and other institutional investors own 88.08% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. JPMorgan Chase & Co. lifted their target price on shares of Light & Wonder from $103.00 to $110.00 and gave the company an "overweight" rating in a report on Wednesday, February 26th. Citigroup raised Light & Wonder from a "neutral" rating to a "buy" rating in a report on Wednesday, February 19th. Mizuho upped their price target on shares of Light & Wonder from $76.00 to $80.00 and gave the stock an "underperform" rating in a research note on Wednesday, February 26th. Jefferies Financial Group raised their price objective on shares of Light & Wonder from $120.00 to $121.00 and gave the company a "buy" rating in a research note on Wednesday, January 15th. Finally, Stifel Nicolaus dropped their target price on shares of Light & Wonder from $104.00 to $93.00 and set a "hold" rating on the stock in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $109.91.

Light & Wonder Stock Performance

LNW traded down $0.80 during trading on Monday, hitting $78.98. The company's stock had a trading volume of 1,215,526 shares, compared to its average volume of 748,398. The business's 50 day simple moving average is $97.97 and its 200-day simple moving average is $94.53. The firm has a market cap of $6.67 billion, a PE ratio of 24.53, a P/E/G ratio of 0.35 and a beta of 1.38. Light & Wonder, Inc. has a one year low of $75.46 and a one year high of $115.00. The company has a quick ratio of 1.61, a current ratio of 1.88 and a debt-to-equity ratio of 4.49.

Insider Buying and Selling

In other Light & Wonder news, CAO Vanja Kalabic sold 1,132 shares of the firm's stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $104.41, for a total transaction of $118,192.12. Following the sale, the chief accounting officer now owns 5,016 shares in the company, valued at approximately $523,720.56. This trade represents a 18.41 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP James Sottile sold 2,356 shares of Light & Wonder stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $105.54, for a total transaction of $248,652.24. Following the transaction, the vice president now directly owns 77,331 shares in the company, valued at $8,161,513.74. This represents a 2.96 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 9,867 shares of company stock valued at $1,037,884. 2.10% of the stock is owned by company insiders.

About Light & Wonder

Light & Wonder, Inc is a cross-platform global games company, which engages in the development of content and digital markets. It operates through the following segments: Gaming, SciPlay, and iGaming. The Gaming segment includes the design, manufacture, marketing, and distribution of portfolio of gaming products and services.